On average, people move every 10 years. When they are ready, you want to be top of mind so that you are the first person they call. How DO you stay top of mind? Stay in touch with past clients. It is estimated that 90 percent of business comes from just five lead sources and one of them is repeat and referral business from past clients.
In a recent National Association of REALTORS® survey, 71 percent of buyers and sellers surveyed reported they would use the same real estate agent again in another transaction, but only 17 percent actually do.
Is the problem poor customer service?
Jay Papasan, co-author of The Millionaire Real Estate Agent (MREA) and The ONE Thing says “no, it’s a lack of communication.” To help you solve that problem, he shares proven activities that will help you maximize that 71 percent of potential business. Since the launch of MREA, Keller Williams has continued to research the most effective ways for you to stay in touch with your database and after taking a deep dive into what top producers were doing, saw the need to evolve The 33 Touch to the philosophy below. While our recommendation on exactly how many touches has evolved as consumers evolve, the core concept remains unchanged; Your database is your business!
"Real estate is a simple business with just three things; You have to know what to say, say it a lot and have a lot of people to say it to." - Ben Kinney
Make 36 Touches to Convert
To maximize your chances of obtaining repeat and referral business, leverage the 36 to convert program. Following this model gives you 36 opportunities each year to reach out to those in your database who you have an existing relationship with. Stay top of mind by conducting the following touches:
4 Warm Telephone Calls: Telephone calls to past clients have an immediate impact on your business. If you do only one thing after reading this blog post, master this! There is anecdotal evidence to suggest that agents who call past clients will do an average of seven more transactions each year than those who don’t.
2 Events: Host two client events each year such as a movie night or social gathering in your community. The neat part about these touches is that they are the reason for your phone call or a feature in your newsletter.
26 Bi-weekly Emails: Systematic and reliable electronic communications are also easy items for people to forward to their contacts. Make your email content interesting and “shareworthy.”
The Career Growth Initiative (GCI) local expert tool makes this activity easier for you with professionally-designed graphics and videos are available to monthly to associates on KWConnect.
4 Promotional Direct: Feel like your promotional items are getting stale? Change them up by sending your clients something that matters to you with a story about why you are sending it.
If you’re not reaching out to your clients 36 times each year, it’s not too late! The activities you do today will start to show up in 90 days so get out there and capture the opportunity!
Watch: Jay Papasan Gives a "Sneak Peek" of MREA 2
Related Read: The Biggest Missed Opportunity in Your Business